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Case Questions for Session 8 (Target Corporation Turnaround) This case is an individual assignment.

1. Walmart and Target are major big-box stores in the retail industry that compete with each other. In terms of strategic positioning, how do they seem to differ? In other words, what kind of business strategy do you think each company is pursuing? Note: For this question, you can 1) rely on your prior experience of visiting the stores, 2) read an article comparing the stores of the two companies, 3) derive your answer based on information presented on each companys website (Walmart / Target), or 4) use all of the above sources.

2. Please answer both of the sub-questions below for this question.

a. While both Walmart and Target have been investing in online channels to compete against Amazon (the largest online retailer), in contrast to Walmart, Target announces in 2017 that they will also massively invest in renovating existing physical stores and building new ones (see article Investing to Grow: Target Commits More Than $7 Billion to Adapt to Rapidly Evolving Guest Preferences). What would have been some important assumptions made by the CEO and top management team for this decision to have made sense from a strategy point of view (i.e., how the firm will gain competitive advantage)?

b. Targets stock fell by 14% on the day of the announcement (see article: Big-Box Rebound: How Target Packaged a Turnaround). What would have been some important assumptions made by equity analysts and investors that caused this market reaction? Note: Do not base your answer based on the outcomes, but the decision itself.

3. What would Target have to implement to make their strategy (i.e., investing in stores) successful? In other words, what are some specific actions Target needs to take to successfully gain a competitive advantage compared to its competitors such as Amazon, Walmart, Costco, etc.? Please provide 3 recommendations. Below are some categories of things you can consider (please do not restrict yourselves to the first three listed below): Store experience Store location Fulfillment Other business activities Hint: You do not need external data to answer this question. Base your answer on the concepts and frameworks you learned in class. Note that some frameworks are more relevant than others to answer this question.

4. What are some risks that you think Target may encounter by pursuing this strategy? Hint: Put yourself in the shoes of stakeholders (supplier/customers/investors/board of directors/employees), competitors, substitutes etc. and think of the issues that could arise.